Go Over Payment Paper For Free

What is an overpayment? An overpayment is defined as any payment that is larger than the invoice's outstanding amount. This can occur if the wrong amount is paid, or if an invoice is accidentally settled twice.

1 ? Confirm that the customer has paid too much. If a customer contacts you with a problem like this, have a look at the invoice in question and check your bank records. ... 2 ? Match the invoice to the overpayment. ... 3 ? Account for the overpayment. ... 4 ? Create a credit note. ... 5 ? Match the credit note with the refund.

Apply the credit to an invoice you already created Select + New. Select Receive payment. Select the customer, then the credit and the invoice. Select another pending invoice and enter the overpayment amount in its Payment column. Select Save and new or Save and close.

When you overpay a supplier, you can still record the payment. Just match the payment to your outstanding invoice or invoices as usual. We save the remaining amount so you can match to an subsequent invoice or refund. We record the remaining amount as special transaction called a Payment on account.

Use a credit balance adjustment to apply the overpayment as a payment to subsequent invoices. Use a negative invoice charge to apply the overpayment as a credit to a future invoice.

I am writing to you because I have been informed that I have been overpaid. I (am/was employed/engaged) by you from (enter date) to (enter date) as a (enter job title) on a (enter job type - full time, part time or agency/casual) basis. You have stated that I have been overpaid by a total sum of (enter amount).

The most common way is to create a journal entry to record the amount of the overpayment and the corresponding invoice number. Another method is to credit the supplier's account with the overpayment amount, and then debited the account for the corresponding invoice.